eToro Referral Code
eToro: Trading Platform
The eToro platform offers proprietary and exclusive technology. It has long made available to its customers several platforms to invest in Forex and CFDs: eToro Open Book, eToro WebTrader, and eToro Mobile Trader.
In 2015, Web Trader and Open Book merged, creating the new eToro, which, according to the broker’s website, represents the pinnacle of efforts to make online trading a unique and intuitive experience.
Most brokers offer different platforms, which tend to be very distinct and autonomous entities. In contrast, eToro’s platforms have always been seen more as an extension of each other. Cutting-edge financial technology, pursued with systems and programs such as Copy Trader, Popular Investor, and Copy Funds, has been a central element in eToro’s development.
eToro accepts traders from all over the world in full compliance with its international vocation. The jurisdictions to which the broker is subject are the following:
The Financial Conduct Authority, also known as FCA, which granted the broker a cross-border license to offer its services in member states of the European Economic Area, regulates eToro (UK) Ltd.
It has obtained a cross-border license to offer its services in member states of the European Economic Area and outside.
eToro USA is managed by Tradonomi LLC, which is itself regulated by the National Futures Association (NFA). However, a clarification is required: eToro USA is not active, and the broker does not accept clients from the United States.
eToro Customer Support
Customer support for eToro is a priority. EToro’s customer service team can be reached by phone, chat, and email and offers various online support methods. We also recommend that you check the FAQ section for more straightforward questions; eToro has already shared a large amount of beneficial information on the network. Most of the doubts can be solved by yourself in a few minutes. If the FAQ section doesn’t help, the support team is on hand.
You must be registered to access online support services. Once registered, the Live Chat support service is available 24 hours a day from Monday to Friday. This is a beneficial resource for new traders.
There is also assistance provided by the “Customer Service Center, “available via the online form for both registered and unregistered customers.
eToro Trading Accounts
The eToro platform allows you to trade only with US dollars because the use of a single currency offers customers a high degree of transparency. Deposits can be made in your local currency. Still, the deposit account will be converted to USD (with the corresponding exchange fee) before trading.
The minimum deposit allowed is $ 200 through credit or debit cards, PayPal, Neteller, Skrill, Webmoney, and GiroPay. The amount may change depending on the laws in force in the region and country where you live.
Deposits are also possible by bank transfer. It should be noted that the wide availability of electronic payment tools, including the very popular Paypal, allows operators to credit new capital to their trading account in a few minutes, while bank transfers could take up to seven working days.
As always, it is advisable to verify your account upon registration to avoid delays in withdrawals. Once your account has been confirmed, you will be able to start trading.
When it is time to withdraw your trading profits, the process could not be more straightforward: just click on the Withdraw button, enter the amount to withdraw (in USD), and click Submit. The electronic withdrawal process will be notified by email, and the request will be processed. Traders are subject to withdrawal fees. The fee is $ 25 for withdrawals over $ 50. The withdrawal can take up to eight business days to complete depending on the service provider.
eToro Commissions and Spreads
There are no commissions to pay, but traders – as is customary in the Forex industry – pay a spread on all positions. Except for Bitcoin trades (where the spread is 1.5%), the average spread at eToro starts from a minimum of 2 pips for currency pairs like JPY / USD and three pips for pairs like EUR / USD, USD / RUB, USD / CHF, and USD / CAD. For less traded currency pairs, the spreads can be as high as 14 pips.
- Automated trading
- clear and understandable trading guides
- social trading platform
- the choice between different types of platforms
- Advantageous offers at regular intervals.
- Slightly higher than average spreads
- a limited supply of Forex crosses to trade on
- the platforms are not customizable
- The charts lack some useful analysis tools.